TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Opening Bell: Stocks Open Higher on Oil Gains, China Posts Weak Retail Sales
    U.S. stocks opened higher on Monday, amid rising oil prices. West Texas Intermediate, the U.S. benchmark price for oil, rose over 2 percent and remained over $47 a barrel. The analysts at Goldman Sachs raised their price target on oil, saying the commodity is expected to rise to $50 a barrel during the second half of the year. 'We're going to see a little bit more of a balance between demand and supply in the United Sates,' said Anthony Chan, chief economist at JPMorgan Chase. 'For example, we've seen that we've gone from almost 9.7 million barrels of production a day to about 8.8 million.' Investors also grappled with fresh concerns about China's economy as retail sales rose 10.1 percent in April, missing estimates of 10.5 percent. Industrial production grew 6 percent, falling short of forecasts of 6.5 percent. Finally, Pfizer agreed to acquire Anacor Pharmaceuticals for $99.25 a share or $5.2 billion in cash. Anacor shares surged some 55 percent on Monday. The deal is expected to close in third quarter. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Trian Unloads PepsiCo Stake; Stocks Close Near Lows
    Stocks ended the session near lows as a number of disappointing retail quarters spooked investors looking ahead to the end of the earnings season. Earnings disappointments from J.C.Penney and Nordstrom exacerbated worries over retail. Oil ended Friday lower, though pared losses after the number of active oil rigs in the U.S. fell for its eighth week in a row. Nvidia was sharply higher after quarterly profit jumped nearly 50% on growth in the video game segment. The graphics chipmaker also projected current-quarter sales higher than analysts expected. PepsiCo slid more than 1% this afternoon after Trian Fund Management disclosed it had unloaded its stake.
    2 min
  • Midday Report: Shake Shack Swings to Profit; Stocks Fluctuate
    Stocks fluctuated as an impressive read on April retail sales countered a recent run of disappointing earnings from retailers. Macy's , Kohl's and Nordstrom have each reported a challenging start to 2016. Consumer sentiment backed up the upward trend in retail sales. Sentiment in early May climbed to its highest in nearly a year, according to the University of Michigan index. Symantec fell short of analysts' expectations in its fourth quarter. Symantec also announced plans to cut roughly 10% of its workforce as part of a reorganization. Shake Shack jumped after swinging to a first-quarter profit and hiking its full-year sales outlook. The burger chain said the launch of its chicken sandwich had driven store traffic in the start to the year.
    2 min
  • Opening Bell: Stocks Slip Despite Blowout Retail Sales Data
    U.S. stocks opened slightly lower on Friday, despite fresh data showing a stark comeback in consumer spending. April retail sales rose 1.3 percent, beating estimates of 0.9 percent and a sharp reversal from the 0.3 percent drop seen in March. While retail sales rebounded in April, the retail stocks tell a much different story. J.C. Penney shares plunged on Friday after reporting a loss of $0.22 a share, although that was narrower than the $0.38 cents analysts were looking for. Same store sales fell 0.4 percent, compared to the consensus estimate of 3.2 percent growth. Finally, Nordstrom shares also sunk on Friday. The company reported disappointing first quarter results on Thursday, with a 1.7 percent drop in same store sales. The analysts at Stifel cut their price target on the stock to $54 from $66. The stock trades near $45. They still have a BUY rating on Nordstrom. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Qdoba Profits Off Chipotle Pain; Stocks Mixed
    Apple was in Wall Street's cross-hairs again, churning out fresh 52-week lows and tumbling further into a bear market. Stocks did manage to come back from lows, though, with the S&P 500 and Dow closing around the flatline. Chesapeake Energy plans to swap 4.1% of its shares for outstanding debt. The move marks its latest effort to diminish its debt load amid lower commodity prices. Jack in the Box benefited from a sales slump at Chipotle at the start to the year. The fast food company enjoyed a nearly 10% increase in revenue at its burrito chain Qdoba. Wal-Mart is ramping up efforts to compete with online rival Amazon .
    2 min
  • Midday Report: Bayer Could Make Bid for Monsanto; Stocks Fall
    The S&P 500 and Dow gave up earlier crude-inspired gains. Crude has traded near $47 a barrel earlier in the session, only to come back to around $46. The Nasdaq sank into the red after iPhone manufacturer Foxconn Technology reported a nearly 10% decline in first-quarter profit, triggering fears over smartphone growth for Apple . Apple reported its first sales decline in more than a decade in April. German company Bayer could make a $40 billion bid for Monsanto . A deal could create the world's largest agricultural chemicals company. Chinese microblogging site Weibo swung to a first-quarter profit and reported a double-digit increase in sales.
    2 min
  • Opening Bell: Stocks Jump Despite Rise in Weekly Jobless Claims
    Investors shrugged off a rise in weekly jobless claims on Thursday - stocks opened higher thanks to a rise on oil prices. The closely watched commodity gained steam, nearing $47 a barrel, following a report from the International Energy Agency saying global oil supply will see a 'dramatic reduction' during the second half of 2016. Weekly jobless claims hit a 14 month high, rising 20,000 to 294,000. The four week average added 10,250 claims. to about 268,250. Finally, more carnage for the retail sector. Kohl's reported a 3.9 percent drop in first quarter same store sales, while analysts had actually expected an increase. The company missed analysts' estimates on both the top and bottom lines. This comes after dismal first quarter results from rival Macy's , released Wednesday - fanning fears of a troubled consumer. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Department Stores Slip on Macy's Disappointment
    Walt Disney and Macy's , industry leaders of the entertainment and retail worlds, each had disappointing starts to the year. Earnings misses soured investor sentiment and pulled the consumer discretionary sector into a selloff. Macy's shares dropped more than 10% and dragged on fellow retailers. Department store chains Target , Nordstrom and Kohl's , all of which have yet to report, were in decline on Wednesday. Fast food chain Wendy's tumbled after first-quarter sales dropped 16%. The company warned of a sales slowdown in its second quarter, putting the blame on a cooler spring in the U.S. Chipotle's board survived its annual shareholders meeting. Three directors who were targeted by a proxy advisory firm were re-elected.
    2 min
  • Midday Report: Fossil Plummets on Disappointing Watch Sales
    Stocks were in decline as a rare quarterly miss from Walt Disney pulled the Dow lower. The retail sector was also selling off after Macy's reported a disappointing quarter and federal regulators blocked a proposed merger between Staples and Office Depot . Crude recovered a level above $45 a barrel and was well on its way toward $46 after an unexpected decline in domestic inventories. The EIA reported a drop of 3.4 million barrels of crude in the past week. Fossil Group lost nearly a third of its value after slashing guidance for its second quarter. Electronic Arts bested quarterly estimates thanks to its popular 'Star Wars' videogame franchise.
    2 min
  • Opening Bell: Stocks Slip and Macy’s Shares Sink on Weak First Quarter
    U.S. stocks opened slightly lower on Wednesday, as Macy's reported disappointing first quarter results. While the retail giant posted earnings per share of $0.40, which beat estimates of $0.36, revenue of $5.77 billion missed estimates of $5.93 billion. Macy's CEO Terry Lundgren said consumers are spending less money on clothing and sales for stores in tourist markets declined double digits. Plus, the federal government nixed the Staples and Officer Depot merger, amid worries the deal would reduce competition in the marketplace. Experts said the government may have downplayed just how much these companies compete with online retail giant Amazon . Finally, Wednesday is Chipotle's annual shareholder meeting. The company could face a proxy fight, as Chipotle's stock is down about 30 percent since the company's epic E. coli outbreak, which began last fall. TheStreet's Scott Gamm reports from Wall Street.
    2 min

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